Principal Financial Group Inc. Reduces Stock Position in The Toronto-Dominion Bank (NYSE:TD)

Principal Financial Group Inc. reduced its holdings in shares of The Toronto-Dominion Bank (NYSE:TDFree Report) (TSE:TD) by 6.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,053 shares of the bank’s stock after selling 6,400 shares during the period. Principal Financial Group Inc.’s holdings in Toronto-Dominion Bank were worth $5,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Raymond James Trust N.A. increased its position in Toronto-Dominion Bank by 1.7% during the 1st quarter. Raymond James Trust N.A. now owns 9,868 shares of the bank’s stock valued at $784,000 after buying an additional 161 shares in the last quarter. Western Wealth Management LLC increased its position in Toronto-Dominion Bank by 2.2% during the 2nd quarter. Western Wealth Management LLC now owns 7,436 shares of the bank’s stock valued at $461,000 after buying an additional 162 shares in the last quarter. Daymark Wealth Partners LLC increased its position in Toronto-Dominion Bank by 4.1% during the 3rd quarter. Daymark Wealth Partners LLC now owns 4,314 shares of the bank’s stock valued at $260,000 after buying an additional 170 shares in the last quarter. Centaurus Financial Inc. increased its position in Toronto-Dominion Bank by 7.7% during the 1st quarter. Centaurus Financial Inc. now owns 2,447 shares of the bank’s stock valued at $147,000 after buying an additional 174 shares in the last quarter. Finally, State Street Corp increased its position in Toronto-Dominion Bank by 2.3% during the 1st quarter. State Street Corp now owns 8,058 shares of the bank’s stock valued at $483,000 after buying an additional 184 shares in the last quarter. 51.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on TD shares. CIBC lowered Toronto-Dominion Bank from a “sector outperform” rating to a “neutral” rating in a research report on Wednesday, November 22nd. StockNews.com upgraded Toronto-Dominion Bank from a “sell” rating to a “hold” rating in a research note on Monday, December 4th. Scotiabank downgraded Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research note on Wednesday, December 20th. Finally, Bank of America downgraded Toronto-Dominion Bank from a “buy” rating to a “neutral” rating in a research note on Monday, December 18th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Toronto-Dominion Bank has a consensus rating of “Hold” and a consensus price target of $95.60.

Read Our Latest Stock Analysis on TD

Toronto-Dominion Bank Stock Up 1.1 %

Shares of TD opened at $59.83 on Wednesday. The Toronto-Dominion Bank has a 52 week low of $54.69 and a 52 week high of $70.67. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $106.18 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 2.33 and a beta of 0.87. The stock’s 50-day moving average price is $61.70 and its 200-day moving average price is $61.02.

Toronto-Dominion Bank (NYSE:TDGet Free Report) (TSE:TD) last issued its earnings results on Thursday, November 30th. The bank reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.04). Toronto-Dominion Bank had a return on equity of 14.68% and a net margin of 10.65%. The company had revenue of $13.19 billion during the quarter, compared to analysts’ expectations of $9.02 billion. During the same quarter in the previous year, the company earned $1.64 EPS. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, sell-side analysts predict that The Toronto-Dominion Bank will post 5.88 EPS for the current year.

Toronto-Dominion Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 10th were given a dividend of $0.7506 per share. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $3.00 dividend on an annualized basis and a yield of 5.02%. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $0.73. Toronto-Dominion Bank’s dividend payout ratio is currently 68.19%.

Toronto-Dominion Bank Company Profile

(Free Report)

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.

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Institutional Ownership by Quarter for Toronto-Dominion Bank (NYSE:TD)

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